‘Instant’ is the mantra of everybody in this Internet era. The present-day organizations also want every resource in an instant, ready manner. It is no different with the human resource of any organization. They recruit and retain fresh management students—those who are ‘job ready’ from day one. Hence, the management educators have to vigorously apply the appropriate pedagogies to develop the skill set of their students. The case study is one such pedagogy which trains the students on live organizational situations. It exposes the learners to a specific situation and facilitates both the educators and learners to develop their managerial competence, decision making and their life skills. This depicts the importance of case studies in management education. While discussing the importance of case study, it becomes important to measure the effectiveness of its implementation in bringing out the expected outcomes. In this context, the researcher has attempted to measure the gap between the perceptions of the management faculties and the management students
regarding their satisfaction towards the development of life skills of the learners through case study. Based on the review of literature, the study includes the effectiveness of case study in developing life skills, such as analytical skills, decision-making skills, application skills, oral communication skills, time-management skills, interpersonal or social skills, creative skills, written communication skills and self-analysis skills. The analysis reveals the prevalence of a gap between the level of
satisfaction of the management faculties and that of the students towards the effectiveness of the case study in skill development among the students. Based on the findings, concrete suggestions are provided for the successful implementation of case study method.

Management education is a science to be learned as well as an art to be practiced. Management theories are universally standard and it remains static under standard conditions. On the other hand, art is ever-changing and it compels different skill sets at different times. In management education, management books provide the scientific
component of management, whereas the pedagogies, such as the case study, give lots of scope for the application of management theories and fill the art component of the management education. In the process of practicing this art component, the learners acquire a multiple set of skills which equip them to face real-time management situations.

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